Mercedes-Benz Group to take 3% stake in Chongqing Qianli Technology

HONG KONG (Reuters) -Chongqing Qianli Technology said on Thursday its key shareholder has agreed to transfer a 3% company stake, valued at 1.34 billion yuan ($187.90 million), to Mercedes-Benz Group.

Chongqing Lifan Holdings has agreed to transfer 135.63 million shares of Chongqing Qianli at 9.87 yuan apiece to Mercedes-Benz, which undertakes not to reduce its shareholding in the next 12 months, the Qianli Technology said in a filing to the Shanghai bourse.

($1 = 7.1315 Chinese yuan renminbi)

(Reporting by Hong Kong newsroom; Editing by Kim Coghill)